MINNEAPOLIS, MN, and SYDNEY, Australia – June 11, 2019 — IDS, a leading provider of asset finance technology, announced increasing demand for its IDScloud solution with the signing and early stage implementation of new clients in the Australian market. Launched in June 2018, IDScloud delivers the company’s market leading full lifecycle asset finance technology in a 100% software-as-a-service model. IDScloud provides asset finance firms with comprehensive features across front, middle and back-office, supporting a full range of lease, loan and line-of-credit capabilities for specialty finance.

“In delivering the strategic objective of the Australian Finance Industry Association [AFIA] of a fair, sustainable and competitive market for the benefit of customers our ongoing representation is shaped by insights from our members. It is apparent all are looking to maximise the value of customers’ data in a way that balances privacy, regulatory requirements and aligns with customer expectations.  Our members are constantly looking for ways to better serve the market and continue to grow their business, including equipment finance, while managing regulatory risk and enhancing customer-trust” commented Helen Gordon, CEO of AFIA. “Technology (including cloud-based solutions that can be easily integrated into an overall ecosystem) will be important to this growth.”

The success of IDScloud comes at a time when the Australian market is outpacing the rest of the world in cloud-based software adoption.(1) In Gartner’s latest public cloud services research, the research firm forecast’s software-as-a-service (SaaS) spend by Australian organisations will be approximately AU$2.6 billion growing to AU$4.7 billion by 2021.(2)

“With broad participation by the banking sector and a growing number of independent and captive lessors, the Australian asset finance market is the perfect fit for our IDScloud solution” stated Duncan Smith, Managing Director Asia Pacific, IDS. “IDScloud is designed to ensure asset finance firms of any size have flexibility to quickly respond to market needs, capture growth opportunities and effectively manage their businesses. Our first Australian IDScloud customers are signed, and the agile onboarding projects are underway.”

IDScloud is a 100% SaaS solution which offers the full capability of IDS’ market leading Rapport origination and InfoLease portfolio management solutions along with integrations to an ecosystem of leading third-party services including credit bureaus, e-signature, CRM, sales tax, insurance and payments. In addition to accelerating the onboarding process, the solution is highly configurable and allows customers to adapt quickly to changing sales and servicing needs in their front, middle and back office. IDScloud provides comprehensive support for a full range of asset classes, deal sizes and deal types. With IDScloud, customers only pay for what they use, enabling the solution to scale in line with customer growth and as their business requirements change.

About IDS

Leading asset finance enterprises build their businesses on full lifecycle solutions from IDS. Our software streamlines the entire asset finance process from origination, to portfolio management, to end-of term. Our new cloud-based offerings integrate seamlessly into any asset finance ecosystem. The scalability, flexibility and economy of our cloud solution makes IDS best-in-class asset finance software accessible to banks, independents and captives of all sizes. Headquartered in Minneapolis, MN, the company also has offices in the United Kingdom, Australia, Singapore and India. For additional information, visit www.idsgrp.com or email [email protected]

Media Contact: Ray Wizbowski – [email protected]

Data Source:  (1)Gartner, (2)ZDNet